March 15

Tax Deadline3

02 Mar March 15

Partnerships: File a 2016 calendar-year return (IRS Form 1065). Provide each partner with a copy of Schedule K-1 (IRS Form 1065), Partner’s Share of Income, Deductions, Credits, etc., or a substitute Schedule K-1. If you want an automatic six-month extension of time to file the return and provide Schedule K-1 or a substitute Schedule K-1, file IRS Form 7004. Then file IRS Form 1065 by September 15.

S corporations: File a 2016 calendar-year income tax return (IRS Form 1120S) and pay any tax due. Provide each shareholder with a copy of Schedule K-1 (IRS Form 1120S), Shareholder’s Share of Income, Deductions, Credits, etc., or a substitute Schedule K-1. If you want an automatic six-month extension of time to file the return, file IRS Form 7004 and deposit what you estimate you owe.

S corporation election: File IRS Form 2553, Election by a Small Business Corporation, to choose to be treated as an S corporation, beginning with calendar year 2017. If IRS Form 2553 is filed late, S corporation treatment will begin with calendar year 2018.

Employers: For Social Security, Medicare, withheld income tax, and non-payroll withholding, deposit the tax for payments in February if the monthly rule applies.

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